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Draft Proposals for Facilitating Electronic Transactions

Start Date :

Jun 16, 2015

Last Date :

Jun 29, 2015

17:00 PM IST (GMT +5.30 Hrs)

Submission Closed

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement: ...

The Finance Minister in his budget speech for the Union Budget 2015-16 made the following announcement:
“One way to curb the flow of black money is to discourage transactions in cash. Now that a majority of Indians has or can have, a RUPAY debit card. I therefore, proposes to introduce soon several measure that will incentivize credit or debit card transactions and disincentivize cash transaction”.
Accordingly, draft proposals for facilitating electronic transactions (E-transactions) have been prepared. Comments and views are invited on the Draft Proposals.
Draft Proposals For Facilitating Electronic Transactions (The Proposals placed below are only at the draft stage and are being placed here to obtain public opinion. The proposals as they stand at this stage, do not imply any commitment from the government)
The last date to share your views is 29 June, 2015 by 5:00 p.m.

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Swanand Kulkarni 11 years 3 weeks ago

Please make e-transactions mandatory for all medical facilities including regular medical checkup, visit to dispensaries, hospital bills, treatment costs, etc. I feel medical professionals (Doctors) are most corrupt amongst other noble professions and would be biggest beneficiaries of black money by taking undue advantage of patients health, relatives trauma & metal stress. Their tactics of cash payment only along with corrupt practices are increasing the medical cost in the country.

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VINEET UPADHYAY 11 years 3 weeks ago

Doctors Consultancy fee today which is almost Rs.500/- + and more for specialist doctors in the Metro Cities should also be made Cashless thru the Electronic transaction mode. Or the System should be made so the Patient should not suffer at the time of emergency. Similarly, all the transaction in the big restaurants, Bar etc should be compulsory made thru the plastic money.

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Abhas Verma 11 years 3 weeks ago

Great Idea sir we should Install card swapping machine at all train and bus counters , this will solve the problem of returning the change.And people can tender exact amount. We should Implement it asap.

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MONIKA RANJAN 11 years 3 weeks ago

A huge welcome to this initiative. I appreciate that our Indian Government has taken this step to curb black money...... Great approach

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Vibhor Verma 11 years 3 weeks ago

Discourage transactions in cash will definitely decrease the flow of black money because each & every transactions can be verified. (Income v/s expenses) Like transfer of LPG subsidy amount in consumer bank accounts has decreased the black market of LPG gas cylinders. We need general awareness for people towards use of these services. (Online payments etc.) Also need to enhance super markets which can helps to earn more taxes for government against every purchases.

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Nimish Gupta 11 years 3 weeks ago

The following points must be considered to make India a cashless economy: Introduce a 2% Cash Handling tax for all sales made via cash - this should provide an incentive to use Debit/ credit cards instead of cash. OR Reduction of service tax, VAT, surcharge & luxury tax on non-cash transactions Nominal charges on IMPF & other bank transfers User controlled dynamic spend limits on Debit cards

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Mohan Kumar N 11 years 3 weeks ago

The draft proposal on electronic transaction is a great measure to curb black money transactions, tax avoidance & reduce corruption. However, the following points must be considered to make India a cashless economy: Reduction of service tax, VAT, surcharge & luxury tax on non-cash transactions No charges on IMPF & other bank transfers User controlled dynamic spend limits on Debit cards Alternative methods for 2 factor authentication

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Archit Tantia 11 years 3 weeks ago

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Anilkumar 11 years 3 weeks ago

Make India "CASHLESS" or only "SMART CASH" thus by avoid black money, illegal transactions etc.. I mean all the transactions should be through bank account by means of smart card even for the purchase of a match box. Since there is no physical currency, there should be no malpractices using money. And also there should be no fake currency. Thanks for reading my comment. Anilkumar

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Shailendra Singh Rajput_1 11 years 3 weeks ago

Great initiative!!... I fully support this... as this saves precious time.. an ofcourse will keep a check on Corruption.. Hope this gets implemented soon.

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